Adviser Success Story: Susie Signal

A tightening on investment loan-to-value ratio restrictions has meant it has become incredibly difficult for customers to purchase an investment property without a substantial deposit.

Fortunately for Susie Signal’s clients, Select was able to approve their loan application with their current deposit and help them in their retirement saving goals.

 

Name

Susie Signal

 

What was the customer’s situation and how did Select help?

The customers in this situation were a married couple looking to purchase their first investment property. They raised a 25% deposit with their main bank to assist with the investment purchase. Given the current reserve bank rules on investment LVR, it meant that the deposit was not enough for the bank to service the loan.

Select offered a 30 year term with an interest only period, which enabled the couple to purchase an investment property, assisting them in their retirement planning.

 

What made this deal unique or challenging?

Reserve bank rules on investment loan to value ratios meant the customers would not have been able to purchase an investment property without Select.

 

Tell us about your experience working with Select?

Select, as well as my BDM, kept me informed through every step of the process. The qualifying criteria is clear and extremely simple to follow.

 

Anything else you’d like us to know about the deal or your experience with Select?

The customers are very happy with their purchase. Select not only helped them through the entire process but supported and assisted their retirement saving goals.